Analysis of the Impact of Financial Technology on Enterprise Digital Transformation

In the context of COVID-19, the offline operations of entity enterprises have been restricted, which has stimulated the inevitable requirements for digital transformation. This essay comprehensively reviews several papers that focus on the impact of financial technology on the digital transformation and development of enterprises. Research has shown that on the financing side, financial technology uses a big data credit information system to alleviate financing constraints and promote the growth of commercial credit and insurance technology innovation. In resource management, it improves the total factor productivity of enterprises by reducing information costs and optimizing factor allocation. At the risk prevention and control level, companies rely on big data and cloud computing technology to control insurance accurately. In terms of value promotion, it can overcome technical limitations, optimize processes, and provide support for enterprise transformation. However, technicians still need to deepen their efforts in the field to find a balance between the adaptability of financial technology and corporate business, the supply of professional talent and risk control, and the promotion of the steady implementation of transformation.